Section 26Sec./Art. 26

Incentives. - The following incentives shall be provided to investors in salt farms development and salt processing facilities:

(a) The Board of Investments shall classify salt farms as preferred areas of investment under its Investment Priorities Plan (IPP) subject to pertinent rules and regulations;

(b) Salt farm owners, salt processors and other related businesses shall be exempt from the payment of import duties for imported machines and equipment to be actually and directly used in their businesses, subject to pertinent rules and regulations;

(c) The salt producers and processors shall be given priority to access credit assistance and guarantee schemes granted by government financial institutions (GFIs); and

(d) Salt farm development and their equipment shall be covered by the Philippine Crop Insurance Corporation.